Dubai's Internet City. EDB's direct lending to Emirati-owned and managed businesses climbed to Dh407 million at the end of March this year. Charles Crowell for The National
Dubai's Internet City. EDB's direct lending to Emirati-owned and managed businesses climbed to Dh407 million at the end of March this year. Charles Crowell for The National

UAE tops Arab world in competitiveness



The UAE, which leads the Arab region in terms of competitiveness, and is home to many tech firms, needs to increase efforts to expand the use of latest digital technologies to further enhance its dominance.

Research by the World Economic Forum shows that by 2020 one in five jobs in the Arab world will require digital skills. Its report assessing the future of employment and skills requirements in the Middle East and North Africa region estimates 47 per cent of all work activity in the UAE faces increased automation.

“Diversifying the economy, developing the private sector and creating opportunities for the youth will require increasing the innovation content of the non-oil sector and navigating through the Fourth Industrial Revolution, said the Arab World Competitiveness Report 2018. It was released by the World Bank Group in association with World Economic Forum this week.

The revolution is characterised by the range of new technologies that are fusing the physical, digital and biological worlds.

While some Arab countries have already put in place long-term strategies and heavy investments,  “the entire region still has to fill the gap with the rest of the world when it comes to adopting and developing the most advanced technologies and the industries of the fut­ure”.

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Read more:

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Abu Dhabi DED is implementing Dh50bn stimulus linked initiatives

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The UAE has increased equity investments in technology firms from $100 million to $1.7 billion in just two years, according to the report’s findings. In a bid to minimise its reliance on hydrocarbons, Abu Dhabi government-owned Mubadala Ventures, the venture capital arm of Mubadala Investment Company, will invest $1bn in local and global technology start-ups by 2021. Mubadala also aims to create a $400m fund to invest in leading European technology companies.

In the report, the UAE is ranked 17th globally in terms of competitiveness and it is followed by Saudi Arabia (30th), Kuwait (52) and Oman (62).

The survey says that Arab economies urgently need to diversify and foster entrepreneurial freedom to increase opportunities for young people and prepare the region for the technological transformations ahead. “Further progress will require Arab societies to rethink their existing social and economic models in order to increase competitiveness,” it said.

Concerns about cyber-dependency have increased dramatically in the resource-rich economies, meaning this trend has the third-highest potential impact on the region, the report said.

“In the UAE, half of companies are worried about cyber attacks (up from about 30 per cent in 2016),” the report said. One in five (up from one 10 in 2016) regards data fraud as one of the major risks.

“Large increases in concern were also observed in Bahrain and Saudi Arabia,” added the report.

Because of fluctuating oil prices over the past few years, countries in the region have been forced to take measures to stabilise fiscal budgets and facilitate private-sector development beyond oil. Last year, 40 per cent of businesses in the UAE were concerned about energy price shocks; while it was 42 and 46 per cent in Kuwait and Saudi Arabia, respectively. The report did not provide comparative figures for 2016.

“The world is adapting to unprecedented technological changes, shifts in income distribution and the need for more sustainable pathways to economic growth,” said Mirek Dusek, deputy head of geopolitical and regional affairs at the WEF.

“Diversification and entrepreneurship are important in generating opportunities for the Arab youth and preparing their countries for the Fourth Industrial Revolution.”

World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final

Four motivational quotes from Alicia's Dubai talk

“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”

“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”

“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”

“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”

The results of the first round are as follows:

Qais Saied (Independent): 18.4 per cent

Nabil Karoui (Qalb Tounes): 15.58 per cent

Abdelfattah Mourou (Ennahdha party): 12.88 per cent

Abdelkarim Zbidi (two-time defence minister backed by Nidaa Tounes party): 10.7 per cent

Youssef Chahed (former prime minister, leader of Long Live Tunisia): 7.3 per cent

SPEC SHEET: NOTHING PHONE (2)

Display: 6.7” LPTO Amoled, 2412 x 1080, 394ppi, HDR10+, Corning Gorilla Glass

Processor: Qualcomm Snapdragon 8+ Gen 2, octa-core; Adreno 730 GPU

Memory: 8/12GB

Capacity: 128/256/512GB

Platform: Android 13, Nothing OS 2

Main camera: Dual 50MP wide, f/1.9 + 50MP ultrawide, f/2.2; OIS, auto-focus

Main camera video: 4K @ 30/60fps, 1080p @ 30/60fps; live HDR, OIS

Front camera: 32MP wide, f/2.5, HDR

Front camera video: Full-HD @ 30fps

Battery: 4700mAh; full charge in 55m w/ 45w charger; Qi wireless, dual charging

Connectivity: Wi-Fi, Bluetooth 5.3, NFC (Google Pay)

Biometrics: Fingerprint, face unlock

I/O: USB-C

Durability: IP54, limited protection

Cards: Dual-nano SIM

Colours: Dark grey, white

In the box: Nothing Phone (2), USB-C-to-USB-C cable

Price (UAE): Dh2,499 (12GB/256GB) / Dh2,799 (12GB/512GB)

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

Kill Bill Volume 1

Director: Quentin Tarantino
Stars: Uma Thurman, David Carradine and Michael Madsen
Rating: 4.5/5

FIGHT CARD

Featherweight 4 rounds:
Yousuf Ali (2-0-0) (win-loss-draw) v Alex Semugenyi (0-1-0)
Welterweight 6 rounds:
Benyamin Moradzadeh (0-0-0) v Rohit Chaudhary (4-0-2)
Heavyweight 4 rounds:
Youssef Karrar (1-0-0) v Muhammad Muzeei (0-0-0)
Welterweight 6 rounds:
Marwan Mohamad Madboly (2-0-0) v Sheldon Schultz (4-4-0)
Super featherweight 8 rounds:
Bishara Sabbar (6-0-0) v Mohammed Azahar (8-5-1)
Cruiseweight 8 rounds:
Mohammed Bekdash (25-0-0) v Musa N’tege (8-4-0)
Super flyweight 10 rounds:
Sultan Al Nuaimi (9-0-0) v Jemsi Kibazange (18-6-2)
Lightweight 10 rounds:
Bader Samreen (8-0-0) v Jose Paez Gonzales (16-2-2-)

Tales of Yusuf Tadros

Adel Esmat (translated by Mandy McClure)

Hoopoe

The Color Purple

Director: Blitz Bazawule
Starring: Fantasia Barrino, Taraji P Henson, Danielle Brooks, Colman Domingo
Rating: 4/5

Turning waste into fuel

Average amount of biofuel produced at DIC factory every month: Approximately 106,000 litres

Amount of biofuel produced from 1 litre of used cooking oil: 920ml (92%)

Time required for one full cycle of production from used cooking oil to biofuel: One day

Energy requirements for one cycle of production from 1,000 litres of used cooking oil:
▪ Electricity - 1.1904 units
▪ Water- 31 litres
▪ Diesel – 26.275 litres

Representing UAE overseas

If Catherine Richards debuts for Wales in the Six Nations, she will be the latest to have made it from the UAE to the top tier of the international game in the oval ball codes.

Seren Gough-Walters (Wales rugby league)
Born in Dubai, raised in Sharjah, and once an immigration officer at the British Embassy in Abu Dhabi, she debuted for Wales in rugby league in 2021.

Sophie Shams (England sevens)
With an Emirati father and English mother, Shams excelled at rugby at school in Dubai, and went on to represent England on the sevens circuit.

Fiona Reidy (Ireland)
Made her Test rugby bow for Ireland against England in 2015, having played for four years in the capital with Abu Dhabi Harlequins previously.

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

'Texas Chainsaw Massacre'

Rating: 1 out of 4

Running time: 81 minutes

Director: David Blue Garcia

Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

SHAITTAN

Director: Vikas Bahl
Starring: Ajay Devgn, R. Madhavan, Jyothika, Janaki Bodiwala
Rating: 3/5

Tips to avoid getting scammed

1) Beware of cheques presented late on Thursday

2) Visit an RTA centre to change registration only after receiving payment

3) Be aware of people asking to test drive the car alone

4) Try not to close the sale at night

5) Don't be rushed into a sale 

6) Call 901 if you see any suspicious behaviour

Avatar: The Way of Water

Director: James Cameron

Stars: Sam Worthington, Zoe Saldana, Sigourney Weaver

Rating: 3.5/5

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Ant-Man and the Wasp: Quantumania

Director: Peyton Reed

Stars: Paul Rudd, Evangeline Lilly, Jonathan Majors

Rating: 2/5

RESULTS

5pm Maiden (PA) Dh80,000 (Turf) 1,600m

Winner Thabet Al Reef, Bernardo Pinheiro (jockey), Abdallah Al Hammadi (trainer)

5.30pm Handicap (PA) Dh80,000 (T) 1,600m

Winner Blue Diamond, Pat Cosgrave, Abdallah Al Hammadi

6pm Arabian Triple Crown Round-1 Listed (PA) Dh230,000 (T) 1,600m

Winner Hameem, Adrie de Vries, Abdallah Al Hammadi

6.30pm Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m

Winner Shoja’A Muscat, Szczepan Mazur, Ibrahim Al Hadhrami

7pm Maiden (PA) Dh80,000 (T) 1,200m

Winner Heros De Lagarde, Szczepan Mazur, Ibrahim Al Hadhrami

7.30pm Handicap (TB) Dh100,000 (T) 2,400m

Winner Good Tidings, Antonio Fresu, Musabah Al Muhairi

How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8


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